Charts

[downrivertrader]

2% Regression Channel connecting the Oct 1998 high and the December 2004 high.

Back up to top or down to bottom?

DRT

 

[ZZZzzzzzzz]

GBLB

 

[ZZZzzzzzzz]

EMC

 

[ZZZzzzzzzz]

DELL

 

[ZZZzzzzzzz]

DESCENDING WEDGE

The descending wedge is the opposite of the ascending wedge. The two boundary lines move downward and the upper line has the steepest angle of descent. This formation will normally resolve upward because the steepest angle is usually the least sustainable.


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015189>

 

[Chagi]

Quote from ZZZzzzzzzz:

DESCENDING WEDGE

The descending wedge is the opposite of the ascending wedge. The two boundary lines move downward and the upper line has the steepest angle of descent. This formation will normally resolve upward because the steepest angle is usually the least sustainable.


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015189>

Nice to see that I'm not the only one seeing this chart pattern with INTC, I posted a very similar chart a bit earlier this evening (hadn't seen your post).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015194>

 

[ZZZzzzzzzz]

More INTC

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015195>

 

[Chagi]

So, since we're both talking about INTC, may I ask what you would be looking for in terms of determining an entry point?

 

[ZZZzzzzzzz]

Now, with a stop, possibly a reverse stop.

Quote from Chagi:

So, since we're both talking about INTC, may I ask what you would be looking for in terms of determining an entry point?

 

[Chagi]

Quote from ZZZzzzzzzz:

Now, with a stop, possibly a reverse stop.

Agreed, I just opened a position during the afternoon pullback ($20.12).